Excise Tax Advisory Services

CDA Services

Excise Tax Advisory Services in Dubai, UAE

The introduction of excise tax in the UAE in 2017, every single person conducting the business of specific products which are considered to be harmful to human health and environment need to pay a tax to the Government. The excise law is applied to products described in the excise goods category, including tobacco, energy drinks, carbonated drinks, etc. CDA is one of the leading accounting and bookkeeping firm, which offers excise tax advisory services in the UAE to help business with tax auditing and payment. By availing proper tax consulting services, you can ensure if the reported excise tax liability is accurate and submitted to the authority within the date mentioned by the tax authority.

Excise Tax Consulting

Excise tax is a form of indirect tax levied on specific goods called “excise goods” which are typically harmful to human health or the environment. The Excise tax was introduced across the UAE in 2017.

The purpose of levying excise tax is to reduce the consumption of unhealthy and harmful commodities as well as to raise revenues for the government that can be spent on beneficial public services. Ultimately, consumers need to pay more for goods that are harmful to human health or the environment.

Under the UAE Federal Decree-Law No. 7 of 2017 on Excise Tax, it is the responsibility of a business to register for excise tax. The deadline for registration for companies was November 30, 2019. The deadline for registration of stocks is January 15, 2020.

It is advisable that a Taxable person engaged in activities relating to excise goods such as tobacco products, carbonated drinks, and energy drinks should empower an audit firm to get professional advice on Excise Tax issues.

CDA is one of the leading accounting, tax, and bookkeeping services providers, who provide excellent excise tax advisory services in UAEto its clients and ensures that the clients comply with the tax law.

Statement of details concerning excise products purchased from outside the UAE (Import) by the taxable person.

Item wise details of Excise goods produced by the taxable person.

Item wise details of Excise goods imported by the taxable person.

Item wise details of Excise goods sold locally by the taxable person.

Item wise details of Excise goods sold outside the UAE (Export) by the taxable person.

Item wise details of Excise goods released from the specified designated zone.

Details of the companies and retailers the excise products are sold by the taxable person.

Tax Compliance and Penalties

FTA has the authority to conduct audits of taxable businesses and then impose penalties on those that do not comply with the law.

FTA’s database is linked directly to the customs department and the taxable items under excise list have item codes that can be easily identified.

Following the implementation of excise duties on the newly added items, importers will not be able to clear any of the taxable items through customs if they are not registered with the FTA.

The failure to register for excise duties within the deadline invites a penalty of Dh20,000

The failure to register excess existing stocks of taxable items as of December 1, 2019, ahead of January 15, 2020, could invite a penalty of Dh20,000.

CDA Excise Tax Advisory Services in Dubai

CDA offers various sort of excise tax advisory services in Dubai including tax planning, verification of documents, assessment of tax calculation, etc. Given below are the excise tax advisory services offered by CDA:

Excise Tax Planning & Advice

CDA professionals help our clients to manage excise taxes and make them understand opportunities to mitigate their impact.

Verification of all the documents

CDA experts verify all the documents relating to excise goods and evaluate whether the documents maintained to follow the requirements of the UAE tax laws.

Assessment of Tax Calculation

CDA professionals will check the tax calculated by the taxable person and ensures that the tax calculated is accurate

Performing Stock count

CDA professionals will perform a stock count on a specific date in order to verify the accuracy of the physical inventory maintained by the taxable person.

Training to the staff

CDA experts will train the staff members of the company on tax audit to prepare them to face if any tax audit in the future.

Excise Tax registration support services

CDA professionals give unlimited support to our clients to lead them through the whole procedure of tax registration services without any difficulty.

Excise Tax compliance services

CDA experts will analyse all the documents related to tax and ensure if they are Tax compliant or not, and will initiate further action.

Ensure Accuracy in tax report for Excise Tax Audit

CDA professionals review Excise Tax records, returns & reconciliation and ensure timely submission of Excise Tax returns for Excise Tax Audit conducted by the FTA. CDA experts can help you maintain your tax records as per the tax law and comply with to avoid penalties and save your money and energy. Our tax specialists support and guide businesses with excise tax registration and systematic excise tax advisory services in the UAE on the compliance of tax law. We can lead you throughout the tax procedures and help your business to grow by providing better strategies.

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Charles & Darwish Associates Accounting and Bookkeeping Services LLC is a central hub for all the Management Consultant Services you need in Dubai. From Advisory Services to Tax Auditing, we offer a wide variety of services to an inclusive clientele.